{ "media_type": "text", "post_content": "Why does the 401k match in consulting suck so much as compared to corporate? What are some ways to make up for it other than just asking for higher base pay?", "post_id": "5f99e99be0ca09001a3fc5ae", "reply_count": 14, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Why does the 401k match in consulting suck so much as compared to corporate? What are some ways to make up for it other than just asking for higher base pay?

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Come to mckinsey. We give 7.5% for free, no contribution needed

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Wow!

Does it?

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Thats a great point K1!

Accenture gives me 6% which is higher then quite a few industry companies ....

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It's probably the same on average. ACN's 6% is competitive, but the lack of instant vesting is no bueno. Still, I've seen 4% in industry as well.

Because they can get away with it. We move around so much that I bet a significant number of people never vest, meaning you don’t cost the firm anything for your 401(k).

PwC goes up with level. I get 6% match in one plan and 25% match up to 6% in pay so another 1.5%. It’s lower for new staff. Better than my industry job.

I worked at a very prominent propane company and they were/still are 5% match with 5 years fully vested. Two years is nothing.

Did you sell Propane and Propane accessories?

For me, it's the same in consulting as with my former in house employer - no vesting period and 100% match on the first 5%. In both cases, the policies changed to requiring a vesting period after I started, but it didn't affect me as an existing employee.

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